Author: FX

Eurostoxx +0.6%Germany DAX +0.6%France CAC 40 +0.9%UK FTSE +0.5%Spain IBEX +0.5%There is no stopping the run in European stocks since the turn of the year, as even the period of turbulence in the past two weeks didn’t feel much like. The mood today is helped as US futures are also slightly higher, with S&P 500 futures and Nasdaq futures up 0.1% while Dow futures are flat. Source link

Bitcoin and ETH (D1) Bitcoin it looks like is waking up. After several days of gloom and doom, and after a timid dip below $22,000 yesterday, the price frankly intensified its upward run, until it marked a high of $24,867, its highest level since mid-August 2022. Currently sitting at the $24585K level, BTCUSD is up about 11.4% over 24 hours and 7.3% over a week. As for Ethereum, it is up 9% at $1682. No specific catalyst seems to be able to be defined to justify this rise in the so-called risk assets. However, several analysts have pointed to recent…

A big beat for US Retail Sales, lifted the USD, Treasury Yields and global stock markets, with a raft of “soft landing” scenarios swirling and even talk of a “no landing”, a situation where inflation cools quickly, the economy grows steadily and unemployment remains low without having a knock-on effect for inflation. A real disparity in views now emerging. Goldman Sachs cut the chance of a US recession in the next 12 months to 25%, from 35%; US 2yr/10yr yield curve at -87bp as the 10yr hits a 7-week high.  Overnight: Japan reported it’s largest ever trade deficit at $174 billion…

Share: In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, GBP/USD risks further retracements in the short term. Key Quotes 24-hour view: “The sharp drop in GBP to 1.1990 yesterday came as a surprise (we were expecting GBP to range trade). Not surprisingly, the sharp and rapid drop is oversold. However, as long as 1.2100 (minor resistance is at 1.2065) is not breached, GBP could continue to decline. That said, a break of the major support at 1.1960 is unlikely today.” Next 1-3 weeks: “Our latest narrative was from two…

L'Air Liquide S.A. GAAP EPS of €4.94, revenue of €23.34B Source link

Who’s up for buying fiat currencies today? If you are, then you better not miss EUR/USD’s uptrend and GBP/CAD triangle pattern support retests. Don’t even think of missing these setups! GBP/CAD 4-hour Forex Chart by TradingView First up is GBP/CAD consolidating inside a descending triangle on the 4-hour time frame. See the pair is back to retesting its 1.6100 support after a recent rejection at 1.6300. Bulls who are confident that the consolidation will lead to GBP/CAD extending the uptrend it started in late September can take advantage of the return to 1.6100 and trade a possible move to the…

Gold, XAU/USD, Retail Sales, IGCS, Technical Analysis – Briefing:Gold prices are heading for the worst month since June 2021Retail traders boosted long bets on Wednesday, a bearish signXAU/USD confirmed a breakout under a key moving average Recommended by Daniel Dubrovsky Get Your Free Gold Forecast Gold prices sank about 1 percent on Wednesday, with the precious metal closing at its lowest since the end of last year. Markets digested a better-than-expected US retail sales print, which followed a hotter-than-anticipated CPI report on the previous day. Both events helped drive up the US Dollar, which tends to inversely track XAU/USD.The anti-fiat…

4/4 © Reuters. FILE PHOTO: The 3M Global Headquarters in Maplewood, Minnesota, U.S. is photographed on March 4, 2020. REUTERS/Nicholas Pfosi/File Photo 2/4 By Christoph Steitz and Ludwig Burger FRANKFURT (Reuters) – Activist investors are renewing their years-long efforts to break up some of Germany’s most venerable companies, seeing streamlining as a promising route to reviving share prices as Europe’s top economy emerges from the energy crisis. This week Brenntag, founded in 1874 as an egg trader in Berlin, became the latest target of investors, who called for the chemicals distributor to spin off its specialties unit. Bayer (OTC:), Fresenius…

Euro, EUR/USD, US Dollar, ECB, Fed, AUD/USD, Crude Oil – Talking PointsEuro found some support in Asia after US Dollar got an uplift priorThe Fed have their work cut out for them after solid data lifted Treasury yieldsThe ECB are explicitly hawkish. Will EUR/USD resume its uptrend? Recommended by Daniel McCarthy How to Trade EUR/USD The Euro steadied in Asia after drifting lower into the New York close as the US Dollar took off against other currencies. The Sterling and Aussie Dollar notched the largest declines but have made small gains today.The greenback was boosted by a blitzing retail sales…

I posted earlier on the expected +50bp rate hike from the European Central Bank in March. No doubt we’ll hear something about this from some of these today:0915 GMT, 0415 US Eastern time ECB board member Fabio Panetta takes part in a discussion on “monetary policy after the energy shock”, co-organised by the Centre for European Reform, the Delegation of the European Union to the United Kingdom and the European Central Bank Representation1300 GMT, 0800 US Eastern time German Federal Bank Joachim Nagel gives a speech at the DIW Europe Lecture1500 GMT, 1000 US Eastern time Dow Lecture by Member…